Ex­pert: Na­tion is on track for car­bon tar­get

China Daily (Hong Kong) - - FRONT PAGE - By WANG YANFEI in Bonn, Ger­many wangyan­fei@chi­nadaily.com.cn

China is on track to up­hold com­mit­ments un­der the Paris cli­mate ac­cord, but some de­vel­oped coun­tries need to show their sin­cer­ity to push the on­go­ing di­a­logue for­ward, ac­cord­ing to China’s top cli­mate en­voy.

“We are ca­pa­ble of achiev­ing more than what we pledged in the Paris Agree­ment,” said Xie Zhen­hua, China’s spe­cial rep­re­sen­ta­tive on cli­mate change. “The thing is, the Paris Agree­ment can­not be ful­filled with­out ef­forts from ev­ery­one within.”

Nearly 200 economies agreed in Paris in De­cem­ber 2015 to curb car­bon diox­ide emis­sions, with the aim of lim­it­ing the rise in av­er­age global tem­per­a­tures to 1.5 de­grees Cel­sius by 2050, com­pared with prein­dus­trial lev­els.

Xie said China is likely to peak its car­bon emis­sions ahead of the sched­uled date of 2030 and will launch the na­tional car­bon trade mar­ket soon after re­ceiv­ing ap­proval from the cen­tral govern­ment.

The prepa­ra­tion for open­ing of the mar­ket has en­tered the fi­nal phase, he said.

He said there is no need to ne­go­ti­ate any­more on rais­ing China’s pledges dur­ing this year’s cli­mate talks, as “all has been set­tled in the pact”.

“The key is to solve dis­putes across dif­fer­ent al­lies,” he said.

Ne­go­tia­tors from nearly 200 par­ties gath­ered in Bonn, Ger­many, to ham­mer out de­tails for im­ple­ment­ing the Paris cli­mate ac­cord.

Ma­jor dis­putes have arisen be­tween de­vel­oped and de­vel­op­ing coun­tries as the talks

sound em­ploy­ment and sta­ble con­sumer prices in­di­cated that the over­all eco­nomic per­for­mance re­mained in the “rea­son­able” ter­ri­tory, which laid a solid foun­da­tion for the coun­try’s ful­fill­ment of its whole-year eco­nomic tar­get, Liu said at a news con­fer­ence in Bei­jing.

The Chi­nese govern­ment has set the whole-year eco­nomic growth tar­get at around 6.5 per­cent. The coun­try al­ready saw ro­bust growth of 6.9 per­cent in the first three quar­ters.

De­spite the mod­er­ate eco­nomic con­trac­tion in Oc­to­ber, Qu Tian­shi, an econ­o­mist at ANZ Group, said he re­mained op­ti­mistic about China’s eco­nomic out­look as the govern­ment pol­icy pri­or­ity will fo­cus on push­ing re­form and re­duc­ing eco­nomic lever­age.

“Hav­ing that as the main pol­icy theme in mind, a slower or faster growth rate doesn’t re­ally mat­ter that much as long as the data of cor­po­rate profit, em­ploy­ment and in­fla­tion re­main in the rea­son­able range,” Qu said.

Chi­nese in­dus­trial en­ter­prises re­ported to­tal profit of 5.58 tril­lion yuan ($840 bil­lion) in the first nine months of the year, up by 22.8 per­cent year-on-year. The growth rate was 14.4 per­cent­age-points faster than the same pe­riod of last year.

China’s ur­ban unem­ploy­ment rate dropped be­low 5 per­cent in Oc­to­ber and the num­ber of new jobs cre­ated in cities in the first 10 months stood at 11.9 mil­lion, al­ready ex­ceed­ing the whole-year tar­get of 11 mil­lion, ac­cord­ing to Liu, the NBS of­fi­cial.

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